$18.7M as of June quarter end....and if I remember correctly when we first heard about the deferring, it was for revenues going back to calendar Q3 of 2010....so 1 year?
Second Quarter 2011 Summary
Total revenue in second quarter 2011 totaled $69.9 million, a 23 percent decrease from $91.2 million reported in second quarter 2010. The decrease in revenue year over year was driven primarily by a $16.5 million decrease in patent licensing royalties from $85.1 million in second quarter 2010 to $68.6 million in second quarter 2011, attributable to the absence of $14.4 million in fixed fee royalties associated with the license agreement with LG Electronics, Inc. ("LG") and the impact of $4.9 million in past sales recognized in connection with the second quarter 2010 renewal of a patent license agreement. Additionally, technology solutions revenue decreased $4.8 million from $6.1 million in second quarter 2010, primarily due to the elimination of revenue under technology solutions agreements that concluded in 2010 and lower royalties recognized on the company's SlimChip modem IP as a result of an ongoing arbitration proceeding related to one of the company's technology solutions agreements. As of June 30, 2011, the company has deferred $18.7 million of revenue in connection with this arbitration. The decreases were partially offset by an increase in aggregate per-unit royalties of 11 percent, or $3.4 million, from $31.6 million in second quarter 2010, due to strong sales from customers with concentrations in smartphones. Customers that accounted for ten percent or more of the $69.9 million of second quarter 2011 total revenue were Samsung Electronics Company, Ltd. ("Samsung") (37 percent), Research in Motion Limited ("RIM") (16 percent) and HTC Corporation ("HTC") (11 percent).
As a result of the decrease in revenue, the company's second quarter 2011 net income of $17.2 million, or $0.37 per diluted share, declined 51 percent from net income of $35.0 million, or $0.78 per diluted share, in second quarter 2010.
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